STR: Preliminary December data for Abu Dhabi hotels
Based on daily data from December, Abu Dhabi reported the following in year-over-year comparisons:
- Supply: +1.5%
- Demand: +9.6%
- Occupancy: +8.0% to 79.4%
- Average daily rate (ADR): +2.1% to AED496.70
- Revenue per available room (RevPAR): +10.2% to AED394.39
STR analysts attribute the month's performance growth to the International Diabetes Federation Congress (4-8 December 2017), which helped push the market's occupancy above 85% on four consecutive nights. The month's absolute occupancy level would be the highest for any December on record since 2004.
STR will release full December and total-year 2017 results later this month. The January edition of STR's market forecast will be available by the end of the month.
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